Hanwha Solutions Signs MOU for 'Bio PVC Commercialization' with 7 Processing Companies

First Domestic Production of Bio PVC Flooring, Wallpaper, and Pipes
Starting This Month, Supplied to Processing Companies from Ulsan and Yeosu Factories

Hanwha Solutions is teaming up with leading domestic polyvinyl chloride (PVC) companies to commercialize bio-based PVC. They plan to gradually increase the use of eco-friendly PVC made from plant-derived raw materials in plastic products.

Hanwha Solutions announced on the 6th that it has signed a Memorandum of Understanding (MOU) for 'Bio PVC Business Cooperation for Carbon Reduction' with seven PVC processing companies. The signing ceremony held at Hanwha Building headquarters in Jung-gu, Seoul, was attended by Nam Ihyun, CEO of Hanwha Solutions, along with Park Youngdae, CEO of Dongshin Polima, Choi Baekgyu, CEO of Duri Chemical, Jung Junggyu, CEO of HDC Hyundai EP, Seo Seungmin, Vice Chairman of Wonpung, Park Siksoon, Chairman of Jeil Wallpaper, Hwang Woongseon, CEO of TSC, and Kim Youngmin, CEO of Power Lab.

Through this agreement, Hanwha Solutions and the processing companies will produce products such as flooring, wallpaper, pipes, tarpaulins, and wraps using bio-based PVC for the first time in Korea. Hanwha Solutions plans to start producing bio-based PVC at its Ulsan and Yeosu plants this month and supply it to each company.

On the 6th, from the left, Park Young-dae, CEO of Dongshin Polima; Choi Baek-gyu, CEO of Doori Chemical; Jung Jung-gyu, CEO of HDC Hyundai EP; Seo Seung-min, Vice Chairman of Wonpung; Nam Yi-hyun, CEO of Hanwha Solutions; Park Sik-soon, Chairman of Jeil Wallpaper; Hwang Woong-sun, CEO of TSC; and Kim Young-min, CEO of Power Lab, signed a Memorandum of Understanding (MOU) for cooperation in the bio PVC business to reduce carbon emissions and took a commemorative photo.
[Photo by Hanwha Solutions]

To this end, Hanwha Solutions obtained the European Union sustainability certification ‘ISCC (International Sustainability & Carbon Certification) plus’ last year for the production and processing of bio-based PVC products and supported certification for each processing company.

PVC is a representative plastic material mainly used in building materials. Bio-based PVC, manufactured using plant-based raw materials instead of fossil resources such as petroleum, emits less carbon during processing and can recycle waste cooking oil, making it more environmentally friendly. The global bio-plastics market is expected to grow from 2 million tons at the end of last year to about 6 million tons by 2027. Recently, major countries such as the United States and Europe have been promoting the introduction of plant-based plastics, and demand is expected to increase rapidly.

Jung Dooyoung, head of Hanwha Solutions’ PVC business division, said, “Global market demand and customer requests for eco-friendly products such as bio-based PVC are increasing,” adding, “We will take the lead in expanding competitive bio-based PVC products together with leading companies in the PVC industry across various fields.”